AMENDMENT NO. 31 DATED JANUARY 11, 2019 TO THE PROSHARES TRUST MANAGEMENT SERVICES AGREEMENT DATED DECEMBER 15, 2005, BETWEEN PROSHARES TRUST AND PROSHARE ADVISORS LLC SCHEDULE A TO THE MANAGEMENT SERVICES AGREEMENT BETWEEN PROSHARES TRUST AND...

AMENDMENT NO. 31 DATED JANUARY 11, 2019 TO THE PROSHARES TRUST MANAGEMENT SERVICES AGREEMENT DATED DECEMBER 15, 2005, BETWEEN PROSHARES TRUST AND PROSHARE ADVISORS LLC

SCHEDULE A

TO THE MANAGEMENT SERVICES AGREEMENT

BETWEEN PROSHARES TRUST AND PROSHARE ADVISORS LLC

As of January 14, 2019

Each Portfolio listed below shall pay the Advisor a fee pursuant to the Management Services Agreement at an annualized rate of 0.10% based on its average daily net assets, as follows:¹

FUND NAME

ProShares Ultra S&P500     

ProShares Ultra MidCap400     

ProShares Ultra Dow30     

ProShares Ultra QQQ     

ProShares Ultra Basic Materials     

ProShares Ultra Consumer Goods     

ProShares Ultra Consumer Services     

ProShares Ultra Financials     

ProShares Ultra Health Care     

ProShares Ultra Industrials     

ProShares Ultra Oil & Gas     

ProShares Ultra Real Estate     

ProShares Ultra Semiconductors     

ProShares Ultra Technology     

ProShares Ultra Telecommunications    

ProShares Ultra Utilities     

ProShares Ultra Russell2000     

ProShares Ultra SmallCap600     

ProShares Ultra MSCI Japan     

ProShares Ultra MSCI Emerging Markets     

ProShares Ultra MSCI EAFE     

ProShares Ultra Nasdaq Biotechnology     

ProShares Ultra FTSE China 50     

ProShares Ultra 7-10 Year Treasury     

ProShares Ultra 20+ Year Treasury     

ProShares Ultra High Yield    

ProShares Ultra FTSE Europe     

ProShares Ultra MSCI Brazil Capped    

ProShares Short S&P500     

ProShares Short MidCap400     

ProShares Short Dow30     

ProShares Short QQQ     

ProShares Short Russell2000     

ProShares Short SmallCap600     

ProShares Short Basic Materials     

ProShares Short Financials     

ProShares Short Oil & Gas     

¹  All fees are computed daily and paid monthly

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FUND NAME

ProShares Short Real Estate     

ProShares Short MSCI Emerging Markets     

ProShares Short MSCI EAFE     

ProShares Short 7-10 Year Treasury    

ProShares Short 20+ Year Treasury     

ProShares Short High Yield    

ProShares Short FTSE China 50    

ProShares UltraShort S&P500     

ProShares UltraShort MidCap400     

ProShares UltraShort Dow30     

ProShares UltraShort QQQ     

ProShares UltraShort Russell2000     

ProShares UltraShort SmallCap600     

ProShares UltraShort Basic Materials     

ProShares UltraShort Consumer Goods     

ProShares UltraShort Consumer Services     

ProShares UltraShort Financials     

ProShares UltraShort Health Care     

ProShares UltraShort Industrials     

ProShares UltraShort Oil & Gas     

ProShares UltraShort Real Estate     

ProShares UltraShort Semiconductors     

ProShares UltraShort Technology     

ProShares UltraShort Utilities     

ProShares UltraShort MSCI Japan     

ProShares UltraShort MSCI Emerging Markets     

ProShares UltraShort MSCI EAFE     

ProShares UltraShort Nasdaq Biotechnology     

ProShares UltraShort FTSE China 50     

ProShares UltraShort 7-10 Year Treasury     

ProShares UltraShort 20+ Year Treasury

ProShares UltraShort FTSE Europe     

ProShares UltraShort MSCI Brazil Capped    

ProShares UltraPro S&P500     

ProShares UltraPro QQQ     

ProShares UltraPro Dow30     

ProShares UltraPro Russell2000     

ProShares UltraPro MidCap400    

ProShares UltraPro Financial Select Sector     

ProShares UltraPro Short S&P500     

ProShares UltraPro Short QQQ     

ProShares UltraPro Short Dow30     

ProShares UltraPro Short Russell2000     

ProShares UltraPro Short MidCap400     

ProShares UltraPro Short 20+ Year Treasury    

ProShares UltraPro Short Financial Select Sector     

ProShares Ultra Gold Miners    

ProShares UltraShort Gold Miners     

ProShares UltraPro Nasdaq Biotechnology    

ProShares UltraPro Short Nasdaq Biotechnology    

ProShares Inflation Expectations ETF    

ProShares Global Listed Private Equity ETF    

ProShares Short Term USD Emerging Markets Bond ETF    

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FUND NAME

ProShares CDS Short North American HY Credit ETF    

ProShares Morningstar Alternatives Solution ETF    

ProShares RAFI Long/Short

ProShares Hedge Replication ETF

ProShares Merger ETF

ProShares UltraPro MLP*

ProShares Ultra MLP*

ProShares Short MLP*

ProShares UltraShort MLP*

ProShares UltraPro Short MLP*

ProShares UltraShort Bricks and Mortar*

ProShares UltraPro Short Bricks and Mortar*

ProShares Short Communication Services Select Sector*

ProShares UltraShort Communication Services Select Sector

ProShares UltraPro Short Communication Services Select Sector

ProShares Ultra Communication Services Select Sector

ProShares UltraPro Communication Services Select Sector

* Not operational as of the date first above written

PROSHARE ADVISORS LLC, a Maryland limited liability company		PROSHARES TRUST, a Delaware statutory trust
By: /s/ Xxxxxxx X. Xxxxx		By: /s/ Xxxx X. Xxxxxxx
Xxxxxxx X. Xxxxx        Chief Executive Officer		Xxxx X. Xxxxxxx        President

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